Share Prices Move Lower
May 08, 2011
The Swiss Market Index fell 10.7 points to 3714.7. The United Kingdom's holiday muted interest, keeping volume low, dealers said. In the drug shares, Roche fell 50 Swiss francs to 9,430 after its strong rally last week. The company expects to report first-half profit on Tuesday. Forecasts call for a rise of around 17%. Ciba, meanwhile, fell 3 francs to 1,552 and Sandoz slipped 1 franc to 1,456. Sandoz announced it sold its construction chemicals operation to a unit of Germany's Viag for 1.3 billion francs. Financial shares ended mixed. Union Bank lost 5 francs to 1,196, while Swiss Reinsurance gained 5 francs to 1,270. Among other blue chips, Nestle lost 9 francs to 1,417, while ABB lost 13 francs to 1,483.
